Sichuan continuous heavy punch rectification illegal financing guarantee Company

| gov.cn

Xinhua News Agency, Chengdu, November 16 (Reporter Hu Xu) Sichuan Local Financial Supervision Administration issued a notice on the 15th, revoking the operating licenses of six companies, including Sichuan Guoan Rongxin financing guarantee Co., Ltd., in accordance with the law. And ordered Dujiangyan City Jinxin financing guarantee Co., Ltd. and other nine companies to suspend business rectification.

The announcement said that a financing guarantee company that revokes its operating license should stop carrying out new financing guarantee business, announce it to the public in the public media within five days, and return its financing guarantee agency license to the territorial financial bureau within 15 days. Within 30 days, take the initiative to apply to the territorial market regulatory department for the change or cancellation of the company, and in accordance with the rules and regulations to undertake creditor's rights and debts, outstanding guarantee liability. The financing guarantee company which has ordered the closure and rectification should suspend the new business, rectify the existing problems, and report the rectification to the territorial Financial Bureau by December 31, 2019.

At the same time, if the above-mentioned financing guarantee company is not satisfied with the relevant penalty decision, it may apply to the provincial local financial superintendency administration for reconsideration within a specified period of time, or bring an administrative lawsuit to the Jinjiang District people's Court of Chengdu; During the period of applying for administrative reconsideration or initiating administrative proceedings, the administrative penalty shall not be suspended.

It is understood that since last year, Sichuan has organized municipal (state) financial bureaus (offices) and intermediary agencies to carry out a comprehensive inspection of financing guarantee companies in the province, and has announced multiple batches of punishment decisions. Recently, Sichuan Local Financial Supervision Administration once again hired intermediary agencies to conduct spot checks on financing guarantee companies throughout the province, forming a continuous high-pressure regulatory situation for the local financing guarantee industry.

Sichuan continuous heavy punch rectification illegal financing guarantee Company

| gov.cn

Xinhua News Agency, Chengdu, November 16 (Reporter Hu Xu) Sichuan Local Financial Supervision Administration issued a notice on the 15th, revoking the operating licenses of six companies, including Sichuan Guoan Rongxin financing guarantee Co., Ltd., in accordance with the law. And ordered Dujiangyan City Jinxin financing guarantee Co., Ltd. and other nine companies to suspend business rectification.

The announcement said that a financing guarantee company that revokes its operating license should stop carrying out new financing guarantee business, announce it to the public in the public media within five days, and return its financing guarantee agency license to the territorial financial bureau within 15 days. Within 30 days, take the initiative to apply to the territorial market regulatory department for the change or cancellation of the company, and in accordance with the rules and regulations to undertake creditor's rights and debts, outstanding guarantee liability. The financing guarantee company which has ordered the closure and rectification should suspend the new business, rectify the existing problems, and report the rectification to the territorial Financial Bureau by December 31, 2019.

At the same time, if the above-mentioned financing guarantee company is not satisfied with the relevant penalty decision, it may apply to the provincial local financial superintendency administration for reconsideration within a specified period of time, or bring an administrative lawsuit to the Jinjiang District people's Court of Chengdu; During the period of applying for administrative reconsideration or initiating administrative proceedings, the administrative penalty shall not be suspended.

It is understood that since last year, Sichuan has organized municipal (state) financial bureaus (offices) and intermediary agencies to carry out a comprehensive inspection of financing guarantee companies in the province, and has announced multiple batches of punishment decisions. Recently, Sichuan Local Financial Supervision Administration once again hired intermediary agencies to conduct spot checks on financing guarantee companies throughout the province, forming a continuous high-pressure regulatory situation for the local financing guarantee industry.




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